Hubbard Broadcasting, Inc. Radio Organizational Chart (Voting)

KSTP-AM, LLC

100% HBI Radio, LLC 100% 100% KTMY-FM, LLC Hubbard Broadcasting, Inc.

HBI Radio 100% Brainerd/Wadena, LLC Hubbard Radio Holdings, LLC

HBI Radio Bemidji, 100% LLC

Hubbard Radio, LLC HBI Radio Alexandria, LLC 100%

Hubbard Radio Hubbard Radio Hubbard Radio Hubbard Radio Hubbard Radio Hubbard Radio St. KSTP-FM, LLC Hubbard Radio Phoenix, LLC , LLC , LLC Washington DC, , LLC Louis, LLC West Palm Beach, LLC LLC

100% 100% 100% 100% 100% 100% 100% 100%

Phoenix FCC Seattle FCC License Chicago FCC Washington DC Cincinnati FCC St. Louis FCC KSTP-FM FCC WPB FCC License License Sub, LLC Sub, LLC License Sub, LLC FCC License Sub, License Sub, LLC License Sub, LLC License Sub, LLC Sub, LLC LLC

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Stanley S. Hubbard

Stanley S. Hubbard Revocable Trust [Stanley S. Hubbard sole Trustee as to Kinnimaka and Hubbard Broadcasting, Inc.] 3.9%

100% Control

Kinnimaka Trust Company

Sole Trustee

Stanley S. Stanley E. Hubbard Hubbard Trust Residuary Trust No. 1

22.61% 21.02%

Kathryn Hubbard 13.12% Robert W. Hubbard Rominski Revocable Trust 13.12% Revocable Trust

Virginia Anne Hubbard Stanley E. Hubbard 13.12% 13.12% Revocable Trust Revocable Trust

Hubbard Broadcasting, Inc.*

*Attached is a schedule showing the non-voting stock interests held in Hubbard Broadcasting, Inc.

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Non-Voting Stock Interests in Hubbard Broadcasting, Inc.

% of Non- % of Stockholder Voting Equity Stock Stanley S. Hubbard Revocable Trust 0.50% 0.67% (Stanley S. Hubbard sole Trustee as to Kinnimaka and Hubbard Broadcasting, Inc.)

Stanley S. Hubbard Trust 15.48% 15.84% (Kinnimaka Trust Company, Trustee)

Stanley E. Hubbard Residuary Trust No. 1 19.18% 19.27% (Kinnimaka Trust Company, Trustee)

Kathryn Hubbard Rominski Revocable Trust 1.46% 2.05% (Kathryn Hubbard Rominski, Trustee)

Kathryn Hubbard Rominski Remainder Trust 9.07% 8.61% (Kinnimaka Trust Company and Daniel M. Rominski, Trustees)

Kathryn Hubbard Rominski Single Life Insurance Trust, Gift Trust, and Joint Insurance Trust 2.47% 2.36% (Kinnimaka Trust Company and Stephen R. Litman, Trustees)

Stanley E. Hubbard Revocable Trust 1.46% 2.05% (Stanley E. Hubbard, Trustee)

Stanley E. Hubbard Remainder Trust 9.07% 8.61% (Kinnimaka Trust Company and Jennifer K. Hubbard, Trustees)

Stanley E. Hubbard Single Life Insurance Trust, Gift Trust, and Joint Insurance Trust 2.47% 2.36% (Kinnimaka Trust Company and Stephen R. Litman, Trustees)

Virginia Anne Hubbard Revocable Trust 1.87% 2.44% (Virginia Anne Hubbard (f/k/a Virginia Hubbard Morris), Trustee)

Virginia Anne Hubbard Remainder Trust (Kinnimaka Trust Company, Stanley E. Hubbard, Kathryn Hubbard Rominski, and Robert W. 9.49% 9.01% Hubbard, Trustees) Virginia Hubbard Morris Single Life Insurance Trust and Virginia Anne Hubbard 2011 Gift Trust 1.64% 1.56% (Kinnimaka Trust Company and Stephen R. Litman, Trustees)

Robert W. Hubbard Revocable Trust 1.46% 2.05% (Robert W. Hubbard, Trustee) Robert W. Hubbard Remainder Trust (Kinnimaka Trust Company, Kathryn Hubbard Rominski, Stanley E. Hubbard, and Virginia Anne 9.07% 8.61% Hubbard (f/k/a Virginia Hubbard Morris), Trustees) Robert W. Hubbard Single Life Insurance Trust, Gift Trust, and Joint Insurance Trust 2.47% 2.36% (Kinnimaka Trust Company and Stephen R. Litman, Trustees) Julia Hubbard Coyte Exempt 2011 Gift Trust (Kinnimaka Trust Company, Stephen R. Litman, Kathryn Hubbard Rominski, and Matthew Coyte, 1.18% 1.12% Trustees) Julia Hubbard Coyte Non-Exempt 2011 Gift Trust (Kinnimaka Trust Company, Stephen R. Litman, Kathryn Hubbard Rominski, and Matthew Coyte, 7.28% 6.91% Trustees)

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Karen H. Hubbard Revocable Trust 2.84% 2.70% (Karen H. Hubbard and Stanley S. Hubbard, Trustees)

Hubbard Grandchildren Trust 2013 (Kathryn Hubbard Rominski, Stanley E. Hubbard, Virginia Anne Hubbard, Robert W. Hubbard, 0.21% 0.20% and Julia Hubbard Coyte, Trustees) Stanley S. Hubbard 2007 Irrevocable Trust (Kathryn Hubbard Rominski, Stanley E. Hubbard, Virginia Anne Hubbard, Robert W. Hubbard, 0.67% 0.64% Julia Hubbard Coyte, and Stephen R. Litman, Trustees) SSH/KHH 2012 Gift Trust (Kathryn Hubbard Rominski, Stanley E. Hubbard, Virginia Anne Hubbard, Robert W. Hubbard, 0.63% 0.60% and Julia Hubbard Coyte, Trustees)

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